CIVI INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Civitas Resources, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

Core Viewpoint - Civitas Resources, Inc. is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company misled investors regarding its oil production capabilities and financial health during the specified class period [1][3]. Company Overview - Civitas Resources is an exploration and production company focused on acquiring, developing, and producing crude oil and natural gas, primarily from the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico [2]. Allegations of the Lawsuit - The lawsuit claims that Civitas Resources made false or misleading statements, failing to disclose significant expected reductions in oil production for 2025, the need for additional acreage and development locations, and the potential for disruptive cost-cutting measures including workforce reductions [3]. - Specific allegations include: - A likely significant reduction in oil production due to natural declines and low TIL counts [3]. - The necessity to incur significant debt and sell corporate assets to maintain operations [3]. - Overstated business and financial prospects [3]. Financial Performance - On February 24, 2025, Civitas Resources reported fourth quarter and full year 2024 financial results, with revenue of $1.29 billion, missing estimates by $3.44 million, and non-GAAP earnings per share of $1.78, missing estimates by $0.21 [4]. - The company projected a year-over-year decline in oil production of approximately 4%, with an average production target of 150 to 155 MBbl/d for 2025 [4]. - Civitas announced a 10% workforce reduction and the termination of key executives, which contributed to an over 18% drop in stock price following the announcement [4].